
Why IREN Stock Is Rising As Bitcoin Surges
IREN Ltd (NASDAQ:IREN) shares are trading higher Wednesday afternoon as Bitcoin (CRYPTO: BTC) rallies, up about 7% to around $73,200, reclaiming the $70,000 level after a volatile start to the week. Here’s what investors need to know.IREN shares are climbing with conviction. What’s driving IREN stock higher?IREN Builds And Runs High-Power Data CentersIREN is a Bitcoin infrastructure company that builds, owns and operates high-power data centers to run fleets of application-specific integrated circuit machines. It also secures grid interconnections and transformers and sources large blocks of electricity, often in regions with renewable-heavy grids, to power those operations.Those servers continuously compute hashes to validate Bitcoin transactions and secure the network. The output is monetized through Bitcoin-denominated block rewards and transaction fees, with the company typically converting a portion of mined BTC into cash ...Full story available on Benzinga.com








